Tirth Plastic reported a net profit of ₹19.91 lakh for the first quarter of FY27 (ended June 30, 2026), reversing a loss of ₹2.34 lakh recorded in the corresponding period of FY26. Revenue from operations rose to ₹522.64 lakh, up from zero in Q1FY26, driven by purchases of stock-in-trade totaling ₹490.60 lakh.

The company’s board of directors approved the unaudited standalone financial results during a meeting held on August 12, 2026. The results were accompanied by a limited review report issued by statutory auditors SSRV & Associates.

Financial Performance

Key financial metrics for the quarter highlight a return to profitability and operational activity:

For the full fiscal year ended March 31, 2026, the company reported total revenue of ₹957.85 lakh and a net profit of ₹37.97 lakh. Current tax expense for Q1FY27 was ₹5.17 lakh.

Corporate Actions

In addition to approving the financial results, the board finalized details for the upcoming Annual General Meeting (AGM). The company appointed M/s A Shah & Associates as the scrutinizer for the AGM and approved the draft notice, directors' report, and secretarial audit report for FY26.

The board also issued a corrigendum regarding the preferential issue of warrants. Mr. Pragneshkumar Girishchandra Dave was replaced as a proposed allottee following an SEBI order that rendered him ineligible. Mrs. Vandana Ben K Bhutiyani has been appointed as his replacement, with all other terms remaining unchanged.

What the Numbers Show

The shift from a loss to profit in Q1FY27 is directly linked to the resumption of operational revenue, which stood at zero in the prior year quarter. With total expenses at ₹497.56 lakh against revenue of ₹522.64 lakh, the company maintained a narrow operating margin, indicating tight cost control or low-margin trading activities given the high proportion of stock-in-trade purchases relative to total revenue.

Tirth Plastic Limited shareholders are voting on a special resolution to approve a ₹13,50,00,000 preferential issue of fully convertible warrants and the appointment of an independent director. The proposal, approved by the Board on July 4, 2026, aims to fund strategic acquisitions, specifically M/s Krishna Plastic Traders’ manufacturing unit, while strengthening the company’s capital base. This financing move is critical for supporting inorganic growth and meeting working capital needs.

The voting process is governed by Section 110 of the Companies Act, 2013, and Regulations 29, 30, and 44 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. E-voting and postal ballot facilities are available from 9:00 a.m. on July 25, 2026, until 5:00 p.m. on August 23, 2026. The cut-off date for determining voting rights is July 21, 2026. M/s A. Shah & Associates has been appointed as the scrutinizer to ensure a fair process, with results expected by August 25, 2026.

Warrant Structure and Pricing

The warrants carry a face value of ₹10 each and are convertible into one equity share of the same face value. Pricing was determined based on Regulation 164(1) of the SEBI ICDR Regulations, with a relevant date of July 24, 2026. The floor price was calculated at ₹29.13, leading the Board to fix the issue price at ₹30. Valuation reports were obtained from M/s Shweta Jain & Co LLP.

Investors must pay 25% of the issue price upfront as the Warrant Subscription Price. The remaining 75% is payable upon exercise of the conversion option within 18 months from allotment. If not exercised, the entitlement expires, and amounts paid are forfeited. The resulting equity shares will rank pari-passu with existing shares regarding dividends and voting rights.

Allottees and Shareholding Impact

The warrants are being allotted to 42 non-promoter entities, including individuals, HUFs, and companies such as Sellwin Traders Limited and Mideast Healthcare Pvt Ltd. Thakor Rohit Popatji is the largest proposed allottee, receiving 880,000 warrants. Post-conversion, promoter holding is expected to dilute from 23.53% to 11.70%, while non-promoter holding will increase from 76.47% to 88.30%. The company states there will be no change in management or control consequent to the issue.

Board Appointment

In a separate resolution, shareholders will vote to appoint Ms. Nidhi Bharatbhai Gandhi as a Non-Executive Independent Director for a five-year term effective from February 5, 2026. She was initially appointed as an Additional Director in February 2026. Ms. Gandhi brings experience in customer relationship management and operations coordination across telecom and logistics sectors. Her appointment is subject to shareholder approval under Section 149 of the Companies Act, 2013.